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US Dollar Trading Program: 07/17/2013

US Dollar Trading Program: 07/17/2013

Jamie Saettele, CMT, Sr. Technical Strategist

The FX Technical Weekly focused on finding an early week top near 100.17/26. Price exceeded this level Monday for less than an hour before reversing sharply. I wrote last night that "the decline from Monday’s high is unfolding in an impulsive manner, which offers the opportunity to sell strength. Resistance is clustered around 99.70 and at 100.10."

Shorts were triggered at 99.70. I'll short more at 100.10 if reached. Stops are 100.60. Target half at 97.70 and half at 95.40.

Other trades that are in progress are GBPUSD short against 1.5310 and EURUSD short against 1.3210.

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